Justin Leong, an insider at ResMed Inc. (NYSE: RMD), sold 3,777 shares of the company’s stock on Tuesday, November 22. A total of $866,821.50 was realized from the sale of the stock at an average price of $229.50 per share. Following the successful conclusion of the transaction, the corporate insider now directly owns 59,817 shares of the company’s stock, which have a combined value of about $13,728,001.50. The transaction was brought to the attention of the Securities and Exchange Commission using a filing, which was then made available to the general public on the SEC’s website.
The most recent quarterly earnings report for ResMed (NYSE: RMD) was released on Thursday, October 27. The medical equipment maker announced earnings per share for the quarter of $1.51, which was in line with the average expectation of $1.51 floating around the internet. The return on equity for ResMed was 25.75%, and the company’s net margin was 21.70%. Compared to the generally accepted forecast of $946.07 million, the revenue for the quarter came in at $950.30 million. The company posted earnings of $1.51 per share during the previous year. The company reported a 5.1% rise in revenue compared to the previous year. According to the forecasts of financial experts, ResMed Inc. will bring in $6.48 in earnings per share this year.
In addition, the company has announced a quarterly dividend, which will be distributed on the following Thursday, December 15. On Thursday, November 10, stockholders of record will be eligible to receive dividend payments of $0.44 per share. The date that shareholders will no longer receive a dividend is November 9. This translates to a dividend payment of $1.76 on an annualized basis and a dividend yield of 0.77%. The payout ratio for ResMed at the moment is 32.90%.
On Wednesday, shares of NYSE: RMD decreased $0.32, bringing the price to $229.34. A total of 323,174 shares changed hands, compared to the typical volume of 554,968 shares. The 52-week low for ResMed Inc. is $189.40, while the 52-week high for the company’s stock is $268.77. There is a debt-to-equity ratio of 0.23, the quick ratio is 1.69, the current ratio is 2.94, and the quick ratio is 1.69. The company now has a simple moving average of $220.58 over the past 50 days, and its simple moving average over the past 200 days is $218.87. The firm’s market capitalization is $33.59 billion, the PE ratio of the company is 42.87, the PEG ratio of the company is 1.45, and the company’s beta is 0.47.
Several institutional investors and hedge funds have recently modified their RMD procedures. Kayne Anderson Rudnick Investment Management LLC spent $26,000 to acquire a new investment in ResMed during the third quarter of this fiscal year. During the second quarter, Capital Advisors Ltd. LLC boosted the percentage of ResMed stock that it held by 2,000.0%. Following the acquisition of 140 more shares during the preceding quarter, Capital Advisors Ltd. LLC now holds 147 shares of the medical equipment provider’s stock, which is $31,000. During the third quarter, Guardian Wealth Advisors LLC made a new investment in ResMed by purchasing a share for roughly $36,000. Coston McIsaac & Partners shelled out $41,000 during the second quarter to acquire a new interest in ResMed. At the end of the third quarter, Twin Lakes Capital Management LLC spent roughly $44,000 to acquire a new interest in ResMed. Institutional investors presently own 65.5 percent of the company’s total shares.
RMD stock has received commentary from multiple analysts recently. Royal Bank of Canada upped their price objective on ResMed from $252.00 to $254.00 and gave the stock a “sector perform” rating in a research note published on Friday, October 28. KeyCorp increased their price target on ResMed from $276.00 to $280.00 and gave the stock an “overweight” rating in a research note published on Friday, October 28. Jefferies Financial Group released a research note on Wednesday, October 12, announcing the beginning of their coverage of ResMed. They recommend maintaining a “hold” position when it comes to the stock and has set a price target of $245.00. Bank of America moved ResMed from a “neutral” rating to a “buy” rating and increased their price target for the company from $245.00 to $260.00 in a research report published on Thursday, October 20. Finally, on Thursday, November 10, a research report published by StockNews.com rated ResMed as a “hold” rather than a “buy,” reflecting the website’s shift in the recommendation. Five financial experts advise investors to keep their current position in the company, while six others say they should acquire it. According to the data from Bloomberg.com, the current consensus rating for ResMed is “Moderate Buy,” and the current consensus target price is $267.00.